U.S. stocks fell sharply Thursday as investors braced for the possibility of a full percentage point increase in the Federal Reserve’s benchmark interest rate later this month, while weak megabank earnings also weighed on sentiment.
The S&P 500 is on track to mark its fifth day in the red — the longest losing streak for the American benchmark in a month. If the Dow finishes the session at current levels, it would mark the blue-chip average’s biggest loss since June 28.
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